Salvador Railway Co. Limited - 1899 dated £100 El Salvador Bond
Inv# FB6459 Bond
£100 5% Bond with unattached coupons. As of 2021, there are no active train services in El Salvador. The national railway entity, FENADESAL (Ferrocarriles Nacionales de El Salvador), operates as a subsidiary of CEPA (Comisión Ejecutiva Portuaria Autónoma), which acts as the port authority. FENADESAL is tasked with the management of 554.8 kilometers of completely inactive narrow gauge railway lines, which measure 3 feet (914 mm) and connect key cities such as San Salvador, Santa Ana, Acajutla, Sonsonate, Soyapango, and Zacatecoluca. These lines previously linked to the Guatemalan rail system at Anguiatú.
The first railway in El Salvador began operations on June 4, 1882, establishing a connection between Sonsonate and the port of Acajutla. Over the following years, the railway network expanded to include Santa Ana, San Salvador, and other areas. Initially, various sections of the network were operated independently by The Salvador Railway Company Limited, which was later nationalized and renamed FES (Ferrocarril de El Salvador), and by IRCA (International Railways of Central America), a subsidiary of the United Fruit Company, which was also nationalized and subsequently renamed FENASAL (Ferrocarril Nacional de El Salvador). In 1975, a government decree enabled the merger of these two entities into FENADESAL, which is overseen and managed by CEPA on behalf of the state.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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